Logo


Mahindra Finance Apr-Jun net at Rs 107 crore

Company's consolidated total income has increased to Rs 1,578.55 crore for the quarter ended June 2016

Tech Mahindra to form JV with Mahindra Finance for payments bank

Mahindra & Mahindra Financial Services (Mahindra Finance) has reported a marginal rise in consolidated net profit at Rs 107.6 crore for the first quarter ended June.

The company’s consolidated net profit stood at Rs 107.4 crore in the corresponding quarter of the previous fnancial year.

"The total income (consolidated) has increased to Rs 1,578.55 crore for the quarter ended June 2016, from Rs 1,512.65 crore a year ago," the company said in a regulatory filing.

On standalone basis, company's net profit however declined 2.2% to Rs 86.98 crore as against Rs 88.98 crore a year ago.

Standalone income increased to Rs 1,375.68 crore during the quarter, from Rs 1,368.41 crore in the same period last fiscal.

The total assets under management (AUM) as on June 30 stood at Rs 41,662 crore, a rise of 11% from Rs 37,554 crore a year earlier.

Mahindra Finance is a leading provider of financial services in the rural and semi-urban markets.

Stock of the company closed 1.2% higher at Rs 320.85 on BSE.